Define Simple Interest
Answers
Answered by
0
Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Answered by
1
Simple interest is one way that interest can be calculated on a loan or investment. ... The standard formula is I = Prt, with “p” being the principal on the loan, “r” being the rate at which interest is being charged, and “t” being the time over which interest is being charged please follow me and mark as brainlist and thanks me
Similar questions